Analyst Steph predicts XRP could reach $40, based on technical patterns.
Inverted Head and Shoulders pattern on daily chart suggests $1.11 target.
Market sentiment and macroeconomic factors could support XRP’s growth.
Renowned market analyst Steph has ignited discussions in the cryptocurrency community with a bold prediction for Ripple coin’s future price action.
His analysis, shared on social media platform X, suggests that XRP could be on the verge of a significant breakout, potentially reaching as high as $40 in the long term.
Steph’s analysis centers on two key technical formations across different timeframes. On the daily chart, he identifies an inverted Head and Shoulders pattern, a bullish formation that could signal a trend reversal.
BUY #XRP BEFORE $40.00 !!! pic.twitter.com/d6O67E7b0A
— STEPH IS CRYPTO (@Steph_iscrypto) September 10, 2024
The analyst posits that a daily close above the pattern’s neckline, situated around $0.65, would confirm the break
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